F2G Ltd, a Manchester, UK-based antifungal drug discovery and development company, raised $60m in funding.
The round was led by Sectoral Asset Management, with participation from Novo A/S, Aisling Capital and Brace Pharma Capital and existing investors Advent Life Sciences LLP, Novartis Venture Fund, Sunstone Capital and Merifin Capital. In conjunction with the funding, Dr Maha Katabi, Private Equity Partner at Sectoral Asset Management, and Dr Martin Edwards, Senior Partner at Novo A/S, will join F2G’s Board of Directors.
The company intends to use the funds to develop its pipeline of novel therapies to treat life threatening invasive fungal infections.
Led by Ian Nicholson, Chief Executive Officer, F2G is advancing F901318, a novel clinical stage candidate for the treatment of invasive aspergillosis – a serious pulmonary infection caused by Aspergillus, a common fungus that affects people with weakened immune systems or lung diseases – and other serious rare mould infections.
A small PK Phase 2 clinical trial for F901318 is planned for 2H 2016 with pivotal registration trials in Invasive Aspergillosis planned for 1H 2017 based on an accelerated regulatory pathway agreed with the relevant agencies.